4/5/2021 12:33:21 PM GMT | By Haresh Menghani
US ISM Non-Manufacturing PMI Overview
The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers Index (PMI) - also known as the ISM Services PMI at 14:00 GMT this Wednesday. The gauge is expected to edge higher to 58.5 in March from 55.3 previous. The employment sub-component is also expected to have risen to 53.9 during the reported month as compared to 52.7 in February.
As Joseph Trevisani, Senior Analyst at FXStreet explains: The US economy seems to have broken free of its pandemic restraints in March with manufacturing optimism at a four-decade high, payrolls adding nearly one million workers and unemployment at a 12-month low. The excellent and unexpected March Manufacturing PMI results should be duplicated in the service sector.
1/7/2021 2:25:26 PM GMT | By Haresh Menghani
US ISM Non-Manufacturing PMI Overview
The Institute of Supply Management (ISM) will release the Non-Manufacturing Purchasing Managers Index (PMI) - also known as the ISM Services PMI at 15:00 GMT this Thursday. The gauge is expected to have eased further to 54.6 in December from the previous month s reading of 55.9. The employment sub-component is also expected to have edged lower to 50.7 from 51.5 in November. Meanwhile, the New Orders Index is projected to fall to 54.9 from 57.2.
How could it affect EUR/USD?
Ahead of the key release, the US dollar index staged a solid rebound from nearly three-year lows and prompted some profit-taking around the EUR/USD pair. Given that the USD recovery is sponsored by a strong rally in the US Treasury bond yields, the data is unlikely to provide any meaningful impetus. Increasing prospects for additional US fiscal stimulus measures might continue to lift